Could downsizing give you a new lease of life?

Once ‘downsizing’ was considered the preserve of retirees and older people whose children had fled the nest.

Today, it has come to mean something very different. Many of those choosing to downsize these days have spotted the benefits of having fewer rooms to clean and cheaper bills.

It can also mean a cash windfall. From estimates based on average property prices, every room which is sacrificed in a house move equates to about £56,000.

This could be spent on holidays, a new car, invested or even just kept for a rainy day.

Our latest Portsmouth Property News bulletin shows that there are more than 4,500 homeowners in the city with two or more extra rooms than they need. That’s three times the number of people with one spare room.

Our February 2019 bulletin also includes some interesting figures about the number and type of property sales over the past two years along along with trends showing a strong performance in the local market.

We also have a new barometer of the housing market based on socio-demographic profiles.

It shows that about 4,000 residents say they are ‘comfortable’, while around 3,500 define themselves as ‘less comfortable’, just over 2,000 as ‘wealthy’ and about 2,800 as ‘getting started’. Where do you fit in?

All of these figures offer invaluable insights into the local market if you are thinking of buying or selling.

Our friendly and expert team have years of experience helping people find the right home just for them. So please don’t hesitate to get in touch if we can help.